SNDK · NASDAQ · Computer Hardware
SanDisk Corporation is a global flash memory and advanced storage company, best known for products such as solid-state drives, memory cards, USB flash drives, embedded flash storage, and enterprise storage solutions.
Current price
$1,407.38
▼ −$74.95 (5.06%) today
ET&A View
Last reviewed 16 September 2026
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Sandisk has emerged as one of the strongest beneficiaries of the AI infrastructure cycle, with rising demand for high-performance storage, constrained NAND supply and dramatically higher pricing producing an extraordinary…
Business Health
Is the business financially healthy?
Yes — very healthy
Revenue, earnings, margins, cash generation and the balance sheet stand out.
Overall
Revenue
$20.2bn · ↑ +175% last year
Earnings
$11.4bn · ↑ +203% expected next year
Margins
Keeps 78% of sales as operating profit
Cash generation
$11.5bn spare cash a year · 57% of sales
Balance sheet
More cash than debt
Investor View
Open a section for the detail behind the quick view.
Sandisk has emerged as one of the strongest beneficiaries of the AI infrastructure cycle, with rising demand for high-performance storage, constrained NAND supply and dramatically higher pricing producing an…
The complete ET&A view
See our full reasoning, what could drive the shares higher or go wrong, our Fair Value and Preferred Entry, and how our view has changed.
Reported annual results, newest first · Market data. “Growth” is the change in sales on the year before.
| Year | Revenue | Growth | Operating margin | Net income | EPS | Free cash flow |
|---|---|---|---|---|---|---|
| FY2026 | $20.2bn | +175.3% | 61.6% | $11.4bn | — | $11.5bn |
| FY2025 | $7.4bn | +10.4% | 6.9% | −$1.6bn | −$11.32 | −$120m |
| FY2024 | $6.7bn | +9.5% | −6.7% | −$672m | −$4.63 | −$475m |
| FY2023 | $6.1bn | — | −21.3% | −$2.1bn | −$14.78 | −$932m |
Long-term growth investors
Also suits: Adventurous investors comfortable with big swings
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
ET&A sees significant upside from the current price with an attractive risk/reward profile.
Compare SanDisk Corp with any company → The model’s own peer calculations are in the Research View.
SanDisk Corporation is a global flash memory and advanced storage company, best known for products such as solid-state drives, memory cards, USB flash drives, embedded flash storage, and enterprise storage solutions. The company became an independent publicly traded business in 2025 following its separation from Western Digital, giving investors direct exposure to its flash memory operations.
SanDisk plays an important role in the modern data economy, where demand for faster, higher-capacity, and more efficient storage continues to grow across consumer devices, data centres, smartphones, gaming, enterprise systems, and artificial intelligence infrastructure. As AI workloads, cloud platforms, and digital content creation generate larger volumes of data, SanDisk is positioned as a key supplier of the storage technology required to capture, move, and preserve that information.
Computer Hardware · USA
For detailed analysis. Each section opens on its own.
As of 14 October 2026
Standard ways of comparing the share price with the company’s earnings, sales and cash. Tap the “i” for what each one means.
| Measure | Today | Source |
|---|---|---|
| P/E | Members | |
| Forward P/E | Members | |
| EV/EBITDA | Members | |
| Price/Sales | Members | |
| FCF Yield | Members |
Valuation ratios are part of ET&A membership.
Other published measures
Use the 5Y and Max ranges on the price chart at the top of the page.
Forecasts are market consensus or calculated from forward EPS — not ET&A estimates, and they can be wrong.
Powered by the ET&A Valuation FrameworkHow Fair Value & Preferred Entry work →
Read the full ET&A methodology →The ET&A View combines our assessment of the business with where today’s price sits against our Preferred Entry and Fair Value. It is a considered judgement, not a mechanical score.
ET&A Score: ET&A's overall assessment of business quality, valuation, growth and risk, out of 10. It weighs business quality, financial strength, growth, valuation, risk, future prospects.
Powered by the ET&A Company Assessment FrameworkSee the full framework →
The automatic, rules-based scores that feed our research. The ET&A Score blends these with our own analysis of the business and its value. How the framework works →
Highly profitable · Strong balance sheet · Strong
Context — not part of the score
Valuation and share-price swings describe the shares, not the company, so they are judged in the ET&A Score and View instead.
Based on the factors that could be measured (45% of the model).
Each area is scored from 0 to 10 on ET&A’s methodology scales — the same ones our research uses — then given a word: Excellent from 8.5, Strong from 7, Good from 5.5, Average from 4.5, Below Average from 3, Weak below 3. The overall answer is the average of the areas we could rate (at least three); the dividend isn’t part of it.
| Area | Based on | Score | Rating |
|---|---|---|---|
| Revenue |
Rated on 3-year average revenue growth, on ET&A's growth scale. | 10.0 / 10 | Excellent |
| Earnings |
Rated on expected earnings growth next year (forecast), on ET&A's growth scale. | 10.0 / 10 | Excellent |
| Margins |
The average of operating and net margin, each scored on ET&A's margin scales. A negative margin scores 1 (Weak). | 9.3 / 10 | Excellent |
| Cash generation |
Free cash flow as a share of sales, on ET&A's cash-generation scale. | 9.5 / 10 | Excellent |
| Balance sheet |
Net debt ÷ EBITDA — roughly how many years of operating earnings would repay the debt — on ET&A's leverage scale. | 9.0 / 10 | Excellent |
| Overall | Average of the 5 rated areas | 9.6 / 10 | Excellent |
Where each band starts on the scales above. They are fixed and identical for every company we cover; they come straight from ET&A’s methodology, so a company is judged the same way here as in our research.
| Measure | Excellent | Strong | Good | Average | Below Average | Weak |
|---|---|---|---|---|---|---|
| GrowthStructural Growth (Fundamental Conviction) | 18%+ | 10%+ | 5.0%+ | 1.7%+ | −2.5%+ | below −2.5% |
| Operating marginCompetitive Position (Fundamental Conviction) | 29%+ | 20%+ | 13%+ | 7.5%+ | 0%+ | below 0% (loss) |
| Net marginEarnings Durability (Fundamental Conviction) | 23%+ | 15%+ | 9.8%+ | 6.0%+ | 0%+ | below 0% (loss) |
| Free-cash-flow marginCapital Allocation (Fundamental Conviction) | 15%+ | 8.5%+ | 3.8%+ | 1.3%+ | −2.5%+ | below −2.5% |
| Net debt ÷ EBITDAStructural Risk (Fundamental Conviction) | net cash | ≤ 1.5× | ≤ 2.8× | ≤ 3.6× | ≤ 5.0× | above 5.0× |
| Return on equity (banks & insurers)Bank and insurer quality | 16%+ | 12%+ | 9.0%+ | 6.7%+ | 2.7%+ | below 2.7% |
| Equity ÷ assetsBank capital | 7.5%+ | 6.0%+ | 4.7%+ | 4.0%+ | any | — |
| Dividend yieldIncome factor (ET&A Quant Score) | 5.8%+ | 4.0%+ | 2.5%+ | 1.8%+ | 1.0%+ | below 1.0% |
Band floors: Excellent 8.5 · Strong 7 · Good 5.5 · Average 4.5 · Below Average 3 (scores out of 10). Utilities and property companies’ structural debt is scored 6.5, as in ET&A’s risk model.
No research notes have been published for SanDisk Corp yet.
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Aako Ugbabe · 24 July 2026 · 11 min read